Tips To Closing A Deal In Business
A successful entrepreneur needs to be a great negotiator. And though there are people that are blessed with the gift of negotiation it is not something that one cannot learn or master. Saying that, we would love to share with you some of the best-proven tips that can help you make a better negotiator to close your next business deal with success. (Image Credit: Tero Vesalainen/Pixabay)
As they say: The first impression is the last impression.
According to a series of experiments conducted by psychologists Janine Willis and Alexander Todorov, a person makes his first impression of you in one-tenth of a second.
Considering that, how can you make sure that your first impression is a good one? Well, according to various studies it has been established that humans are affected by their surroundings. A surrounding can impact a person’s mood, his impression of you, and even his intent to take action.
Therefore, it is clear that when scheduling a meeting with the other party, one must ensure that it is a place that is not only comfortable and refreshing but also gives off the impression that you are a confident and trustable professional.
A cowork office space that is clean, organized, and spacious is a great place to meet the other party. It will ensure that they are comfortable and inclined to close the deal with you.
If you are operating in Beverly Hills, you can find a professional cowork space in Beverly Hills that you could use.
Know the other party
People plan out everything before negotiating a deal, however, they often miss out of one of the most crucial factors that can be game-changing i.e. know the other party. It is extremely important to know exactly who you are dealing with. While researching about the company you can try to answer these questions:
What is its mission?
What are their needs?
Why do they want to make a deal?
What kind of parties have they been working with or are currently working with?
The answers to all of the above questions will give you a good idea on how to pitch so that the other party would have no other option but to close the deal with you.
One more thing to ensure is that you know the person who has the last say in the deal. And while drafting your pitch, make sure you think like that person. It will always play out in your favor.
Creating urgency is something the marketing industry is known to do quite well when it comes to increasing sales. You might have heard the following phrases:
The summer sale will last for only 3 days, hurry up!
Or, this coupon expires in 7 days!
What this does is puts a deadline to the deal which creates urgency. People are known to think a lot or delay their decisions because they want to be sure. However, when there is urgency, it has been seen that people act abruptly, they don’t think it through, and act.
Therefore, if you create urgency in your deal there’s a great chance that you will close the deal. If you are looking for cowork space to conduct your business meeting, you will love Studio at Beverly Hills. They offer 5 other locations in the United States. Now that’s sure to make a good impression!